Hello everyone!
I’m Sasha from MSQ.Wallet team.
As some of you might know, a couple of months ago we’ve launched MSQ.Burn - a PoS on-chain miner for our memecoin $BURN.
Immediately after the launch we started thinking of ways to introduce utility for the project and the token. After a month of heated discussions and another month of implementation, we’re ready to present the new version of MSQ.Burn dapp.
What is MSQ.Burn v2?
If the first iteration of MSQ.Burn was about burning $ICP and airdropping (mining) $BURN, the second one is about burning and aidropping other tokens. A generalization, in other words.
Now MSQ.Burn is a new kind of software, which we call a deflator - it provides projects with tools to stimulate deflation of their tokens. In short, MSQ.Burn creates a base incentive for holders to burn a particular ecosystem token and allows the team behind the token (or anyone else) to create additional incentives via regular & event-triggered airdrops.
If that sounds interesting, we’ve prepared a couple of articles you might like:
- For projects - how to deflate your token
MSQ.Burn: The Great Deflator of the Internet Computer Ecosystem. — MSQ.Burn - For everyone else - how to earn with MSQ.Burn
MSQ.Burn: Earn by Making the IC Ecosystem Deflationary — MSQ.Burn
Does it really work?
MSQ.Burn V2 progresses in weekly rounds. To this moment we’ve completed only 3 rounds. The first two rounds were deflating the $BURN token itself and the third round (ended yesterday) was deflating $EXE (Windoge98).
In total MSQ.Burn users have burned 68k $BURN (~0.66% of total supply) and 2.44k $EXE (~0.02% of total supply, ~1.6% of total burned via dogverts). It is not much, but the result is reproducible - put the same amount of effort as you did last week = deflate your token by roughly the same number of coins. As a bonus, the Airdrop Machine redistributes some of the pledged tokens, enforcing further decentralization and expanding your community. We see MSQ.Burn as a very promising dapp, especially given our current scale.
Outro
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